15 States Where Foreclosures Are Still Surging

[MNeagle]

15 States Where Foreclosures Are Still Surging

http://static.businessinsider.com/image/4bec0e9d7f8b9a0b725f0200-343-257/foreclosure-map.jpg


Realtytrac's monthly report has an bittersweet outlook for real estate.

Total foreclosures are down 9%, thanks to improvement in disaster areas like California and Florida. But 27 states reported rising foreclosures, with major increases in some areas. Meanwhile, bank repossessions -- the most miserable stage of the foreclosure process -- set a new monthly high in April.

The housing virus is mutating. It's hard to say if we're getting better.

See Where Foreclosures Are Surging >


click for slideshow: http://www.businessinsider.com/15-states-where-foreclosures-are-still-surging-2010-5#ixzz0pzW02TmE

[Horn]

I picture it getting slightly darker down on the Gulf coast soon.

Thanks, for the threads MN.

[Carbon]

I picture it getting slightly darker down on the Gulf coast soon.

Thanks, for the threads MN.


Gotta love the image the article uses for Louisiana (http://www.businessinsider.com/15-states-where-foreclosures-are-still-surging-2010-5#louisiana-28-up-since-march-6) (is that an oil boom and soon-to-be-dead pelicans?):

http://static.businessinsider.com/image/4bdb381e7f8b9a694cd00500-400-300/louisiana-28-up-since-march.jpg

[Carbon]

Ah... my home state:

Delaware (http://www.businessinsider.com/15-states-where-foreclosures-are-still-surging-2010-5#delaware-30-up-since-march-8) -- 30% up since March

Delaware -- 30% up since March
One in 881 homes received foreclosure filings last month.

They're up 140% since April 2009.


Over the years Delaware has been called the chemical capital, the corporate capital, and the credit-card capital of the United States. Its liberal incorporation laws and a Court of Chancery that specializes in the most-complex issues of corporate governance and finance have encouraged many American and foreign businesses to make Delaware their nominal home. The preponderance of the state's major corporate, banking, and legal enterprise is located in the northern part of the state.

(source (http://www.history.com/topics/delaware))


The chemical industry that polluted about every inch of the state has gone off to greener pastures to pollute. The duPont presence here is just a ghost of what it used to be (they've off-shored just about all their operations). The once great Hercules (http://www.fundinguniverse.com/company-histories/Hercules-Inc-Company-History.html) - a spin-off of the duPont breakup - is a non-entity.

So, Delaware moved to the 'Service' economy. Lots of employment supporting the huge multi-national corporations that find a favorable environment here (Delaware's corporate laws are akin to piracy laws - whoever can bribe or kill the best, wins). But, all of that changed over the last 20 years as the corporations moved their support operations to more favorable locations like - India.

Even now, the pharmaceutical industry that spawned from the chemical industry is shrinking here as more of the operations are moved overseas.

Which pretty much left us with banking - and we all know where that's going.

A friend of mine used to supply HB1 visa tech workers to the banking giants (JPM, Citi) like toilet paper to public shxt-houses. He's been unemployed for almost a year - and wasn't placing any tech workers for about a year before that. Tech work in DE is dead.

I often ponder what the folks in DE are gonna do for a living? Cut each others lawns, flip burgers and greet consumers at the big-box stores, like everyone else, I suppose.

[TPTB]

Gotta love the image the article uses for Louisiana (http://www.businessinsider.com/15-states-where-foreclosures-are-still-surging-2010-5#louisiana-28-up-since-march-6) (is that an oil boom and soon-to-be-dead pelicans?):

http://static.businessinsider.com/image/4bdb381e7f8b9a694cd00500-400-300/louisiana-28-up-since-march.jpg


On a brighter note, we might use the oil soaked wildlife to use as torches when the people finally rise up and storm DC in tandem with our pitch forks. ::)